NAA : Finds case of profiteering by cosmetic dealer where basic-price increase exactly equaled rate-reduction

National Anti-Profiteering Authority (NAA) finds a case of profiteering u/s 171 of CGST Act, 2017 by a cosmetics dealer observing that benefit rate reduction has not been passed on to applicants in respect of shades of product “Maybelline FIT Me foundation” despite reduction in tax rate from 28% to 18% w.e.f. November 15, 2017 vide Notification No. 41/2017 - Central Tax (Rate); Noting that, basic price was increased exactly equal to amount of reduction in tax rate, remark...